BlackBerry (BB) ended the latest trading session at $2.39, up 1.7% from the previous day’s close. The stock outperformed the S&P 500’s 0.97% daily gain. The Dow, on the other hand, gained 0.58% and the tech-heavy Nasdaq gained 1.39%.
The cybersecurity software and services company’s shares have fallen 2.89% over the past month, outperforming the Computer and Technology sector’s loss of 5.36% and underperforming the S&P 500’s loss of 1.85%.
Analysts and investors will be closely monitoring BlackBerry’s performance in its upcoming earnings release. The company is expected to report earnings per share of -$0.01, up 75% from the year-ago quarter.
The Zacks Consensus Estimates for the full year are calling for earnings of -$0.05 per share and revenue of $608 million. These results would represent year-over-year changes of -200% and -28.72%, respectively.
Investors should also pay attention to recent changes in analyst estimates for BlackBerry. These recent adjustments often reflect changing dynamics in near-term business patterns. As a result, optimistic estimate changes suggest that analysts are becoming positive about the company’s business health and profitability.
Based on our research, we believe these estimate changes are directly related to stock moves within the team. To capitalize on this, we have developed the Zacks Rank, a proprietary model that takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable outside-audited track record of success. #1 stocks have delivered an average annual gain of +25% since 1988. There was no change in the Zacks Consensus Estimate for earnings per share within the past month. BlackBerry currently has a Zacks Rank of #3 (Hold).
The Computer Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to rely on Zacks.com in the following trading sessions to keep track of all these and other metrics that affect the stock.
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BlackBerry Limited (BB): Free Stock Analysis Report
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